Clifford Chance advises roject on the financing of the Çeşmeli-Kızkalesi Motorway Project

Clifford Chance advises lenders on the financing of the Çeşmeli-Kızkalesi Motorway Project

25 August 2025

Sait Eryilmaz, Nikolaï Eatwell, Qudeer Latif, Gökçe Uzun, Başar Kırka, Ali Can Altıparmak, Berke Avarkan, Aykan Karpuzcu , Melisa Mengü, Marius Fritz, Salma Mowlid, Sandy Hall, Jonathan Forrest, Büşra Altuntaş, David Neu, Christopher Banks
London, Dubai, Paris, Istanbul

Clifford Chance advises lenders on the financing of the Çeşmeli-Kızkalesi Motorway Project

Clifford Chance has advised the lenders—T.C. Ziraat Bankası A.Ş. (as Facility Agent), Akbank T.A.Ş., Denizbank A.Ş., T. Vakıflar Bankası T.A.O. (as Security Agent), T. İş Bankası A.Ş., Yapı ve Kredi Bankası A.Ş. (including Yapı Kredi Azerbaijan CJSC), Barclays Bank PLC, and DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main—on the ICIEC-covered financing provided to Mersin Otoyolu Yatırım ve İşletme A.Ş. for the Çeşmeli-Kızkalesi section of the Çeşmeli-Erdemli-Silifke-Taşucu Motorway Project. The project is being developed under the Build-Operate-Transfer (BOT) model.

This strategically important 52-kilometre motorway will offer a high-standard, uninterrupted link between Mersin’s principal tourism destinations and the national road network. Upon completion, it is anticipated to deliver significant savings in both time and fuel, alleviate congestion, and reduce carbon emissions, whilst supporting regional economic growth.

The Clifford Chance team advising on this multi-jurisdictional financing was led by Sait Eryılmaz (Partner, Istanbul), Nikolai Eatwell (Partner, Paris) and Qudeer Latif (Partner, Dubai), supported by Gökçe Uzun (Counsel, Istanbul), Başar Kırka (Counsel, Istanbul), Ali Can Altıparmak (Senior Associate, Istanbul), Berke Avarkan (Associate, Istanbul), Aykan Karpuzcu (Associate, Istanbul), Melisa Mengü (Associate, Istanbul), Büşra Altuntaş (Associate, Istanbul), and Alper Eski (Trainee Lawyer, Istanbul), with Marius Fritz (Senior Associate, Dubai), and Salma Mowlid (Associate, Dubai) advising on ICIEC aspects, Sandy Hall (Partner, London) and Jonathan Forrest (Senior Associate, London) advising on EPC matters., David Neu (Partner, Munich) and Christopher Banks (Senior Associate, Munich) advising on hedging aspects.